Wall Street gains on oil price, retail sales

DPA New York, June 6 (DPA) US markets rallied Thursday on booming oil prices and strong sales at major discount chains. Energy companies helped lead the advance after oil prices rose by $5.49 to $127.79 per barrel. Investors also responded to better than expected sales at retail giants Wal-Mart and Costco.

“While the economy is weak, it’s not deathly weak,” Alan Gayle of Ridgeworth Capital Management told Bloomberg financial news. “The markets may very well be breathing a sigh of relief.”